Image: “Inspired” by @saender’s new decred.org design.
Highlights of August:
New Politeia release is live after 8 months of development! Highlights include:
The work reported below has the “merged to master” status unless noted otherwise. It means that the work is completed, reviewed, and integrated into the source code that advanced users can build and run, but is not yet available in release binaries for regular users.
dcrd is a full node implementation that powers Decred’s peer-to-peer network around the world.
dcrd v1.7.4 was released to fix testnet mining algorithm as detailed below. It was a source code only release as it is primarily intended for developers.
master and backported to v1.7.4 release:
Enforced difficulty throttling on testnet. Normally ASICs are not expected on testnet and blocks are mined with “slow” CPU mining, since it’s not reasonable to require high-powered hardware to run testnet. There is no financial incentive either because testnet coins have no value and ASIC miners have a better choice to mine mainnet coins for profit. Despite that, an unusual hashrate of ~78 Th/s (equivalent of 2 Antminer DR5) joined Decred testnet and mined for ~5 hours, which ramped up the difficulty and effectively stalled the network. To limit the type of games that ASICs can play on testnet two new rules are introduced: a limit on maximum allowed difficulty and a limit on block production rate once maximum difficulty is reached. This should keep CPU mining feasible even in the presence of GPUs and ASICs. It should be noted that this solution is only suitable on a test network where no real monetary value is in play and thus the typical game theory mechanics do not apply.
Optimized handling of blocks with too few ticket votes to also copy the regular transactions into an alternative block template in addition to the stake transactions. This makes template creation more robust in the case of duplicate spends and helps ensure that all transactions in an invalidated (under-voted) block are added to alternative block templates. Previously all transactions were copied too but only in the next block, so this change removes an unnecessary delay.
master towards v1.8:
blockchaintests run in parallel to reduce the overall testing time roughly in half.
dcrwallet is a wallet server used by command-line and graphical wallet apps.
master and backported to v1.7.4 source-only release:
dcrctl is a command-line client for dcrd and dcrwallet.
Decrediton is a full-featured desktop wallet app with integrated voting, StakeShuffle mixing, Lightning Network, DEX trading, and more. It runs with or without a full blockchain (SPV mode).
Politeia is Decred’s proposal system. It is used to request funding from the Decred treasury.
dbutil -migratecommand (used to migrate from one user database to another).
dbutil -dumpcommand to work with all of the user database implementations.
GUI remake on the new plugin architecture:
piplugin: proposal status, vote duration, quorum, billing status changes, and error messages.
pi-ui shared library:
pi-ui. Wired up PostCSS for CSS processing.
Image: Updated RFP proposal view in Politeia.
dcrlnd is Decred’s Lightning Network node software. LN enables instant and low-cost transactions.
EnforcePingRPC call. This allows callers to direct dcrlnd to ping the specified peer and wait for the response. If the response fails to be received, then the peer is disconnected.
DCRDEX is a non-custodial, privacy-respecting exchange for trustless trading, powered by atomic swaps.
DCRDEX v0.5.2 has been released! Check the v0.5.0 release first for a long list of features, fixes and instructions to upgrade from v0.4. Starting with the v0.5.2 release DCRDEX now publishes its own binaries. As always, verifying them is strongly recommended.
Note that there has been no announcement yet because DCRDEX is coordinating with the other components (such as Decrediton).
August changes included in the v0.5 release:
August fixes included in v0.5:
User-facing changes towards the next v0.6 release:
Backend and developer changes towards the next v0.6 release:
Image: DCRDEX layout for tablet devices.
GoDCR is a lightweight desktop GUI wallet with integrated staking, privacy, Politeia voting, consensus voting, and more.
dcrlibwallet shared library:
Image: New Settings design in GoDCR.
dcrdata is an explorer for Decred blockchain and off-chain data like Politeia proposals, markets, and more.
dcrweb is the source code for the decred.org website.
Summary of site changes:
/chatsubpage (it redirected to chat.decred.org).
links.yml) consolidated to remove duplcation. All wallet links and versions now reside in one file
Other site changes:
Image: New decred.org design.
Welcome to new first-time contributors with code merged to master:
Community stats as of Sep 1 (compared to Aug 1):
In August the new treasury received 9,219 DCR worth $294K at August’s average rate of $31.93. 3,788 DCR was spent to pay contractors, worth $121K at August’s rate, or $91K at July’s billing rate of $23.93.
The treasury spend transaction was mined on August 27, it had 23 outputs ranging from 0.7 DCR to 1,168 DCR. The transaction was approved with 6,795 Yes votes and 0 No votes.
One proposal was published and approved in August. D.R.E.A.M. 2: Dream Harder was submitted by @jy-p working with @jholdstock, @jz, and @saender to produce a revised decred.org prototype site along the lines of the D.R.E.A.M. proposal which had the best voting response (48% approval) but did not pass for the decred.org messaging RFP which was decided in September 2020. The present proposal to deploy the new design/messaging at a cost of $7,660 ($3K of which is reserved for translations) was approved with 97% Yes votes and 59% turnout.
See Politeia Digest issue 53 for more detail on the month’s proposal.
Hashrate: August’s hashrate opened at ~44 Ph/s and closed ~70 Ph/s, bottoming at 38 Ph/s and peaking at 84 Ph/s throughout the month.
Image: Hashrate recovering from the lows.
Distribution of 75 Ph/s hashrate reported by the pools on Sep 1: Poolin 65%, F2Pool 26%, BTC.com 5.5%, AntPool 3.5%, CoinMine 0.6%.
Distribution of 1,000 blocks actually mined by Sep 1: Poolin 61%, BTC.com 5%, CoinMine 0.7%, unknown 33%.
Image: Pool hashrate distribution.
The locked amount was 9.22-9.39 million DCR, meaning that 63.9-65.0% of the circulating supply participated in Proof of Stake. This is a new all-time high for stake participation and ticket pool value.
VSP: On Sep 1, ~7,050 (-120) live tickets were managed by listed vspd servers. Collectively the 18 VSPs managed 17.3% of the ticket pool (-0.1%).
Image: Distribution of tickets managed by VSPs.
Nodes: Node versions captured by Decred Mapper on Sep 1 (176 total, dcrd only): v1.7.1 - 31%, v1.7.2 - 29%, v1.7.4 - 18%, v1.7.0 - 8.5%, v1.8.0 dev builds - 3%, v1.7.0 dev builds - 1%, other - 10%.
Image: dcrd node version distribution.
Decred’s Lightning Network has seen 42 nodes (-3), 68 channels (-10) with a total capacity of 35.4 DCR (-1.5), as of Sep 1.
VSP synergy-crypto.net announced on its website that it is closing and is not accepting new tickets. Tickets with already paid fees will be voted as usual (180 tickets as of Sep 1).
ViaBTC announced on Aug 5 that they will shut down their DCR mining pool on Aug 10. Users were asked to withdraw or convert their DCR by Aug 17, and any DCR remaining by that deadline will be automatically converted to USDT.
A total of 7 defunct services have been removed from decred.org Exchanges page (CoinSwitch, Sequoir (ex Vertbase), Evercoin, Bitcoin.com) and Wallets page (Ownbit, AnyBit, Atomic Wallet, Evercoin). As of Sep 12, 22 third-party exchanges and 6 third-party wallets remain listed.
Warning: the authors of the Decred Journal have no idea about the trustworthiness of any of the services above. Please do your own research before trusting your personal information or assets to any entity.
Join our #ecosystem chat to follow Decred ecosystem updates.
Monde PR’s achievements:
Secured the following news articles:
Decred Magazine engagement stats for August:
Twitter users are more than welcome to support @Decredmagazine with follows, likes and retweets to help spread the message.
Art and fun:
Selected Reddit posts:
Selected Twitter discussions:
In August DCR was trading between USD 25.60-70.40 / BTC 0.00114-0.00306. The average daily rate was $31.93.
Another review of crypto and stock markets by @Applesaucesome mentions unusual numbers in August’s DCR pump:
The volume of that candle was massive. And I mean MASSIVE. Just on the DCR/USDT pairing there was nearly 2 million DCR traded back and forth. That’s 14% of the entire supply. Note: This doesn’t mean that much was bought or sold but the total combined amount bought + sold.
The following quote is not financial advice:
In conclusion, the markets are likely going to pull back but if you’re a bull then it could present one last solid buying opportunity. If you’re a bear then this would be the time to sell more. Crypto still looks terrible right now but I’m not selling.
Image: DCRDEX monthly volume in USD.
Tornado Cash, an Ethereum mixing service, was added to the OFAC sanctions list by the US Treasury, for its role in facilitating the laundering of proceeds of hacks by North Korea. The sanctions cover a set of Ethereum addresses associated with the mixer, and in the immediate aftermath of the sanctions being unveiled some trolls were sending small amounts of mixed ETH from Tornado to the wallets of celebrities to taint their funds. Circle quickly blacklisted $75K of USDC belonging to Tornado users. GitHub removed the repositories for Tornado Cash and also the accounts of at least 3 developers who worked on it.
Two days later a developer who worked on Tornado Cash, Alexey Pertsev, was arrested in Amsterdam by the Dutch Fiscal Information and Investigation Service, on suspicion of helping to facilitate money laundering. The Dutch authorities are holding Pertsev for 3 months until a trial can be arranged, but so far they have not been charged with a specific crime, and their wife has denied links to Russian espionage.
A whole DeFi ecosystem on Solana (Saber protocol) was revealed to be the work of two brothers, a lot of fake developer accounts, and some techniques for double or triple counting the assets locked into the protocol.
Maker DAO has been supporting the DAI stablecoin since launch in 2019 and its governance serves to determine how the MKR ecosystem develops. Most participants in Maker DAO governance seem to agree that it is not going well and needs to change, but there are disagreements about how it should change. In a recent podcast debade MKR founder Rune Christensen made a case that people working for the DAO were getting too comfortable and trying to expand the organisation in ways which suited themselves. Hasu (pseudonymous crypto researcher, MKR governance delegate) represented the side of DAO contributors who could see that MKR holders were being presented with sub-optimal proposal decisions which they were not always well suited to answer - but several proposals to create new core groups which would provide a certain kind of intelligence to the token holders were recently rejected. One Twitter thread on the subject adds a 3rd faction, decentralization maximalists who want to see the smart contracts locked down or “ossified” so that they cannot be changed in response to changing regulation. Rune is however the main character whose return from semi-retirement heralded a change in direction away from what the DAO’s contributors and in some cases VC backers were planning. Rune has provided an epic “End Game” plan but it is extremely long and complex, split into several long forum posts, so it’s not clear how many people support that.
Leaked videos have been circulated of lawyer Kyle Roche bragging about their work with Ava Labs (of Avalanche network), which included tying other competing projects up with frivolous lawsuits. Ava labs have denied the sensational account of their arrangement with the firm which Crypto Leaks published, and Kyle Roche has withdrawn from a number of the aforementioned class action lawsuits.
That’s all for August. Share your updates for the next issue in our #journal chat room.
This is issue 50 of Decred Journal. Index of all issues, mirrors, and translations is available here.
Most information from third parties is relayed directly from the source after a minimal sanity check. The authors of the Decred Journal cannot verify all claims. Please beware of scams and do your own research.
Credits (alphabetical order):